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OKX Launches Spot Trading for PAX Gold (PAXG)

OKX announces the listing of PAXG for spot trading, offering users the ability to trade a gold-backed digital asset pegged to the value of gold.

PAXG

Summary

On October 14, OKX launched spot trading for PAX Gold (PAXG), a token issued by Paxos that is pegged to the value of gold. Each PAXG token represents one ounce of physical gold held by Paxos Trust Company, expanding OKX's asset offerings for users seeking gold-backed digital assets.

Terms & Concepts
  • Spot Trading: The purchase or sale of a financial instrument, such as cryptocurrency, for immediate delivery on a specified date.
  • PAX Gold (PAXG): A digital token backed by physical gold, issued by Paxos, where each token represents one fine troy ounce of a London Good Delivery gold bar.
  • Crypto Exchange: An online platform that facilitates the buying, selling, and trading of cryptocurrencies and digital assets.